JUDGMENT

1. Instant petition has been filed by the petitioner challenging the order dt.29.01.2019 passed by the District Collector and District Magistrate, Jaipur in Application No. 380/2018 filed by the respondent No. 4-Shri Ram Housing Finance Limited under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (for short the Securitisation Act, 2002). The petitioner has prayed in the writ petition that the respondent No. 4-Shri Ram Housing Finance Limited may be directed not to act, take any coercive action or proceed further against the petitioner by taking possession of the petitioners flat No. 314, 3rd Floor, Aradhana Residency, Plot No. G-01, Manglam City, Hathoj, Kalwar Road, Jaipur. The petitioner has further prayed that the respondent No. 4-Shri Ram Housing Finance Limited may be directed to initiate, proceed and recover all the outstanding amount from the respondent No. 3 Om Prakash Bajaj and further he may be directed to pay all the cost, interest, charges and expenses to the petitioner.

2. The brief facts pleaded in the writ petition are that the petitioner was sanctioned a home loan by the respondent No. 2 ICICI Bank Limited (vide sanction memo dated 29.11.2017) of Rs. 14,80,000/- for purchase of flat No. 314, 3 rd Floor, Aradhana Residency, Plot No. G-01, Manglam City, Hathoj, Kalwar Road, Jaipur. The bank after obtaining and considering the legal opinion of their panel Advocate found that title of the said property was absolutely clear and marketable and thereafter sanctioned and disbursed the loan amount to the petitioner.

3. The petitioner has pleaded that he initially paid an amount of Rs. 20,000/- vide agreement to sell dated 10.11.2017 to the respondent No. 3 Om Prakash Bajaj and after the respondent No. 2 ICICI Bank Limited was fully satisfied with the title search report, it had disbursed the loan and the petitioner purchased the said flat by the registered sale-deed from the respondent No. 3 Om Prakash Bajaj vide sale-deed dated 01.12.2017.

4. The petitioner has pleaded in his petition that the respondent No. 4-Shri Ram Housing Finance Limited filed an application under Section 14 of the Securitisation Act, 2002 before the respondent No. 1 for taking over possession of the petitioners flat along with various other properties mortgaged by M/s.Om Sokhal Builders & Construction Pvt. Ltd. (hereinafter referred to as the builder) in pursuance of two loans sanctioned and disbursed by the respondent No. 4 i.e. a project loan and loan against properties of the builder and the flats of the aforesaid project, constructed by the builder, where one of the flats being flat No. 314 was subsequently purchased by the petitioner from the respondent No. 3. The petitioner has pleaded that he was utterly shocked and surprised when he came to know that the respondent No. 1 without providing any opportunity of hearing or following any procedure, as mentioned under the Act and Rules provided under the Securitisation Act, 2002 passed an order dated 29.01.2019 for taking over the possession of the petitioners flat and other properties without following any due procedure.

5. The petitioner has pleaded that he is a bonafide purchaser and has paid full and final sale consideration of the aforesaid flat to the respondent No. 3 and sale-deed has also been duly executed and registered in the office of Sub-Registrar, Jaipur and the petitioner also had to lodge a First Information Report against the respondent No. 3 and others for committing fraud and cheating with the petitioner and the same is pending investigation with the Police Station, Kalwar, Jaipur.

6. The petitioner has pleaded that the respondent No. 1 while passing the order under Section 14 of the Securitisation Act, 2002 has not considered the fact that the petitioner is neither the borrower nor any valid, legal or any charge has been registered/created in favour of the respondent No. 4. The petitioner has pleaded